Aspen Insurance Holdings Limited has launched a custom-developed risk management platform to identify the concentration of exposures across its reinsurance and insurance portfolios.

The bespoke solution developed specifically for Aspen by Risk Management Solutions (RMS), the world's largest provider of products and services for the quantification and management of catastrophe risks, is called RiskClash.

Whilst previous risk modelling tools employed by Aspen were able to aggregate risk according to postal or zip codes, RiskClash is the first system designed to model single site risk accumulation across combined insurance and reinsurance lines down to a city block, subject to data being available.

The core advantage of the RiskClash system is its ability to determine Aspen's aggregated exposure across its entire risk portfolio and identify post loss potential exposure in key geographical locations to a high level of accuracy.

In addition, the system will allow Aspen to run "what if" scenarios using any country and peril, enabling them to gain a more comprehensive understanding of a risk before it is underwritten.